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create journal entries for the transactions accomplished in each month.
July 1999: Assume E&P issues at 97, 10-year term bonds with a par value of $800,000, dated January 1, 2012, and bearing interest at an annual rate of 10 percent payable semiannually on January 1 and July 1. Create journal entries to record the issuance.
August 1999: E&P issues 300 shares of $10 par value common stock for $4,500.
October 1999: E&P has an arrangement with schools and non-profits that E&P will provide a 3% volume discount to its customers if they purchase at least $10,000 in products during one month. On October 1, 1999, E&P has made sales of $7000 to San Quentin University (SQU). In the previous two months, E&P sold over $23,000 to SQU. If SQU fails to make the discount threshold, what entry will E&P have to make upon forfeit of the discount.
Compute the company's return on assets ratio, profit margin ratio, and asset turnover ratio, both with and without the new product line.
In your own words state the primary uses the GASB believes external users have for financial reports of state and local governments. For contrast, state the uses the FASB believes external users have for the financial reports of not-for-profit or..
After the adjusting entry, the December 31, 2005, what is the balance in the Uncollectible Accounts Expense?
Examine the financial condition of Bellwhether Garden Supply Submit a copy of the firm's key financial statements as well as reports (balance sheet, income statement, statement of retained earnings, and statement of changes in financial position..
Evaluate the variable cost per unit and Estimate the net fixed cost per month.
How much indirect factory wages and factory equipment depreciation cost could be assigned to the Customer Orders activity cost pool?
Prepare a production budget, in units, for each of the first four months of the year and Prepare a direct materials budget, in dollars, for each of the first three months of the year.
William recognized a $4,500 capital gain on the sale of marketable securities and a $15,000 Section 1231 loss on the sale of business equipment. What is net effect of these gains and losses on William's taxable income?
Capital Structure decisions - The cost of capital for a project depends primarily on the
What will Ricky and Lucy's new monthly payments be? (Please be sure to show how calculations are made.
In connection with this contract, Mill incurred $2,000,000 of construction costs during 1996. Mill billed and collected $3,000,000 from Drew in 1996. Illustrate what amount should Mill recognize as gross profit for 1996?
the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method?
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